Supporting more small and medium-sized enterprises to export is a key component of the government's plan for growth, and last year David Cameron said that its goal is to get a further 100,000 British businesses exporting by 2020. The Guardian Small Business Network, Lloyds TSB and and the Institute of Directors (IoD) welcomed 15 members of the local business community to talk about driving export growth by encouraging small businesses in Wales to make that crucial first step into foreign markets.

Everyone in attendance agreed wholeheartedly when it was noted by chair Gwyn Topham that "recent times have been tough". In light of the economic challenges that our neighbours in Europe are also facing, it is clear that the greatest opportunities for UK exporters lie further afield. Many of the delegates around the table already held a wealth of exporting expertise and several attendees were already trading internationally, exporting primarily into the Bric economies as well as into India and Africa.

The majority of the room seemed to agree that a lot of work needs to be done in terms of preparing the business sector in Wales for international trade. Attendees suggested that responsibility falls on the Welsh government in supporting and preparing small Welsh businesses to even think about exporting and accessing new markets. The morning's discussion focused on audience and panel suggestions for ways that businesses in Wales can be encouraged to trade internationally, including collaboration, mentoring and improved support, particularly in the form of a one-stop exporting advice shop.

The panellists – Tim Burden, international business manager at Lloyds TSB; Mike Theodoulou, chairman of the CBSA; and Robert Lloyd Griffiths, regional director of the IoD – started the discussion by setting the scene. Burden explained that both the UK and European economies are fairly flat at the moment. He said: "Europe is seen as a relatively easy market, [but] businesses now need to consider looking elsewhere."

Theodoulou said: "Before we talk about actually accessing these new markets, we need to talk about building the export readiness of Wales." He said Wales "can only get better. There are 200,000 registered companies here and less than 1% of them currently engage in international trade." His comment that "there is huge room for improvement for all of us" was met with agreement from all around the table.

The brief of the morning was to discuss accessing new markets, and, although it might be assumed that the greatest opportunities for UK exporters lie with the rapidly expanding emerging markets, namely the Bric countries, Theodoulou pointed out that small businesses in Wales "should first think about moving across the bridge to Bristol and beyond, because internationalising the Welsh economy starts with convincing a greater number of small businesses to be brave enough to start trading in England".

Understanding different cultures

Griffiths said that, in order for Welsh businesses to be in a position to access any new market, regardless of its geographical closeness to Wales, they need to make sure that they're "getting the marketing and social media right". One delegate and marketing agency owner said that "if you target right and you're engaging with the right people you will get into new markets, but you have to take an integrated approach to your communications plan, ensuring that you remember that social media is just a tool. It's just like a telephone and you can't forget the basic principles of marketing."

Another delegate said that "differences in culture and differences in etiquette must be at the forefront of a marketer's mind when communicating with different people globally, whether that is on the phone, by email, face-to-face or via social media". One attendee noted that, although a business might believe that it understands a culture, you really need to remember that "beneath that culture are many different layers, and businesses need to develop the ability to stand back and watch how people do business elsewhere before they go in themselves".

Aside from marketing, there are several other obstacles to entry in terms of accessing new markets – lack of knowledge being one of them. Griffiths is currently heading up a microbusiness task force. He said that one of its recommendations for the Welsh government is to create a network of one-stop shops where microbusinesses can access support from one single source. Nods around the table indicated that an information and advice portal like this would be very well received. One delegate suggested that the business community in Wales needs to work together to produce a "very simple guide that explains the whole export journey from start to finish".

Everyone agreed that the first step into an export market is very daunting and that as a starting point businesses new to exporting need to be armed with an understanding of the varying cultures, red tape, ethics and etiquette. Burden said that there are myriad advisers out there but perhaps there are too many doors to knock on. One delegate said that she was "staggered by how much information there was in Wales and that if this proposed one-stop or first-stop shop succeeds, the microbusiness task force will have done the best service to Welsh businesses that has ever been put into place".

Working together

The audience also raised idea of collaboration, highlighting the fact that it can help business growth at home as well as in new markets. Theodoulou said: "Collaborating with other firms through sub-contracts or joint ventures can greatly increase small businesses' chances of winning larger contracts." Another delegate agreed and expanded, saying that "in a country like Wales businesses really should be helping each other and should have a sense of duty and obligation to help those also working in our community". Many around the table agreed with Griffiths, who said that more often than not, "business owners are actually delighted to have the opportunity to help somebody and give something back".

The concluding remarks were made by Lloyds TSB's Burden. He said that, if he could give only one piece of advice to a potential exporter, it would be to "not become an accidental exporter.

"If you're going to go into export markets, do your research. It is an investment decision and is absolutely not something that you just do on a whim."